Memphis, Tennessee, is a prime location for investing in restaurants, with its rich history, cultural significance, and strong economy. As a hub for transportation and logistics, the city attracts a diverse range of visitors and residents, creating a high demand for dining options. Restaurants in Memphis can represent a variety of investments, from casual eateries to fine dining establishments, catering to different tastes and preferences. The city's amenities, infrastructure, and location make it an attractive place to invest in a restaurant. For instance, the Memphis International Airport, the world's second-busiest cargo airport, brings in a large number of travelers and business professionals who require convenient dining options. Additionally, the city's hospitals, such as Methodist Le Bonheur Healthcare and Baptist Memorial Healthcare, and educational institutions, like the University of Memphis and Rhodes College, create a steady flow of customers. The city's geography, situated along the Mississippi River, also provides a unique opportunity for waterfront dining experiences.
Memphis is home to 24 restaurants for sale, offering a range of opportunities for investors. The city's restaurant scene is characterized by its barbecue and blues heritage, attracting visitors from around the world. In addition to restaurants, Memphis also offers a range of other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, the city's apartment buildings can provide a steady stream of income, while shopping centers offer a diverse range of retail and dining options. Specialty properties, such as those in the South Main Arts District, can cater to the city's thriving arts scene, and hotels can capitalize on the city's tourism industry. Overall, Memphis provides a unique blend of history, culture, and economic growth, making it an attractive location for investors.
What is the average cost per square foot for a restaurant in Memphis?
The average cost per square foot for a restaurant in Memphis is $372 USD per square feet, with an average size of 9,910 square feet and a largest size of 89,630 square feet, among the 24 available listings of restaurants for sale in the city.
What factors determine the value of a restaurant for sale in Memphis?
When evaluating the value of a restaurant for sale in Memphis, several key factors come into play, including:
- Location, with proximity to major attractions like Graceland and the National Civil Rights Museum, as well as access to transportation hubs like Memphis International Airport, influencing foot traffic and customer demand;
- The restaurant's size, with an average size of 9,910 square feet, and condition, including the age and quality of equipment, fixtures, and furnishings;
- Financial performance, including the restaurant's average cap rate of 6.9%, revenue streams, and profitability, which can impact the overall value of the business.
